Fisher & Paykel shares soar on guidance upgrade
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More news: Shares in Fisher & Paykel soared 10.2% to $32.33 by 12:40pm AEST after upgrading its full-year profit guidance.
Net profit for the half-year is expected to be in the range of NZ$150 million ($137 million) to NZ$160 million, a mid-point increase of 44% from a year ago.
Fisher & Paykel upgrades profit guidance
The news: Health equipment provider Fisher & Paykel has upgraded its full-year profit guidance and outlined expectations for its first-half results.
The numbers: Net profit for the half-year is expected to be in the range of NZD150 million ($137 million) to NZD160 million, a mid-point increase of 44% from a year ago.
Total revenue for the six months to 30 September, 2024, is expected to rise 18% at the mid-point of a NZD940 million to NZD950 million range.
The company now expects full-year profit to be in the NZD320 million to NZD370 million, up from a previous guidance of NZD310 million to NZD360 million. Full-year revenue guidance remains unchanged at NZD1.9 billion to NZD2 billion.
The context: The ASX- and NZX-listed company suffered poor results in FY24, weighed by one-off costs associated with a limited product recall and tax changes in New Zealand.
On Friday, CEO Lewis Gradon told investors the current fiscal year has been strong across all products and regions, with new product introductions in the hospital product group and relatively high hospital census in both the Southern and Northern Hemispheres.
The source: ASX announcmenet
